Dec, 31, 2023 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 1 branch location and about $47.53 million in total assets. Opened 92 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,619 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EDUCATION 1ST CREDIT UNION |
|---|---|
| Address: (Main Office) | 1250 Country Hills Dr OGDEN, UT 84403-2560 |
| Phone: | (801) 392-4877 |
| Fax: | (801) 392-4879 |
| Website: | https://e1cu.org |
| Branches: | 1 branch locations |
| Members: | 2,619 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67127 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $47,532,213 |
| CEO/Manager: | Kent M Greenfield |
| Chairperson: | Kristy Ellis |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,335,733 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 25,216,545 |
| Unsecured Loans | 2,523,218 |
| Other Loans | 13,706,779 |
| TOTAL LOANS | 41,446,542 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -130,552 |
| Land And Building | 208,487 |
| Other Fixed Assets | 208,900 |
| NCUSIF Deposit | 356,053 |
| All Other Assets | 0 |
| TOTAL ASSETS | 47,532,213 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 147,046 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,426,782 |
| Regular shares | 14,665,418 |
| All Other Shares & Deposits | 18,403,337 |
| TOTAL SHARES & DEPOSITS | 42,495,537 |
| TOTAL LIABILITIES | 42,642,583 |
| Regular Reserve | 0 |
| Other Reserves | 2,122,201 |
| Undivided Earnings | 2,767,429 |
| TOTAL EQUITY | 4,889,630 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 47,532,213 |
| INCOME & EXPENSE | |
| Loan Income | 1,981,026 |
| Investment Income | 78,873 |
| Other Income | 270,562 |
| Total Employee Compensation & Benefits | 702,463 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 597,642 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 135,232 |
| Cost of Funds | 789,216 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 216,753 |
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